July 2022: Tuesday 19 July 2022 - 9:00am
Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • A Ten storey building comprising 35 flats (30 x one bedroom and 5 x two bedroom) arranged over the third to ninth floors
    • Three ground floor commercial units with two floors of office space (sold off on long leases)
    • Attractive panoramic views
    • Rooftop Antenna let at £5,300.00 per annum (rent review every 5 years)
    • Currently producing £262,289.12 per annum (plus vacant possession of four flats)
    • All flats fitted with modern appliances and double glazing
    • Two lifts

    Description

    A Ten storey building comprising 35 flats (30 x One Bedroom and 5 x Two Bedroom) and three ground floor commercial units with two floors of office space (sold off on long leases)

    The flats are accessed from a communal entrance fronting Sandgate Road

    The block benefits from two lifts

    Each flat benefits from double glazing (fitted 2017)

    All flats are well presented with modern Bosch and Montpelier kitchen appliances

    Two parking spaces to the rear

    Additional information

    Tenure

    Freehold

    Accommodation

    The ground floor commercial units and the first and second floor offices are sold on 999 year leases from 2017.


    The third to ninths floors are arranged as 35 flats (30 x one bedroom and 5 x two bedroom). Three units are vacant, with the remaining 31 let on ASTs at a combined rent of £256,989.12 per annum. Please see the legal documents for a full tenancy schedule and individual ASTs.


    All flats are of open plan layout. Please refer to the legal pack for copies of the plans


    In addition there is an Antenna on the rooftop level let for a term of 15 years from 19th February 2016 at a rent of £5,300.00 per annum. Rent review every 5 years.

    Rent

    Total Current Rent £262,289.12 per annum (plus vacant possession of four flats)

    Notes

    Please contact our Joint Auctioneer Martin & Co to arrange a viewing

    01303212797


    Eight Week Completion


    VAT is applicable and the sale of the property can be treated as a TOGC (please refer to the legal documents)

      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Located near to the junction of Sandgate Road and West Terrace

      An extensive range of shopping facilities can be found nearby in the centre of Folkestone

      The sea front provides a range of Recreational amenities to the area

      Easy access to the M20 provides links to a wider road network

      Transport

      National Rail - Folkestone

      Legal documents

      Login to view legal documents

      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums